Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1887-07-15
Growing Wealth.

From the New York Tribunel
If it is true, as capable journals in differ
ent trades have represented, that about
800 600, 900 has been spent during six
months in building railroads, fully as much
more in developing mines and manufactures
in fourteen southern states exclusive of the
cost Of buildings, probably at least as large
IA sum in the remaining states with double
the population, and about S4O0. 600 600 in
buildings during the same six months,
where has this vast sum of money come
from About S6l, 900, 600 Of the per cent
bonds have been redeemed since january
LIST, and the money collected by duties and
paid 10 bondholders may have been invest
ed in improvements but that is not a large
part Of the sum required. The statistics
of foreign trade indicate that a considera-
BILE sum may have been transferred 10 this
side 10y foreign capitalists but at the ut
most this cannot have been more than about
$50, OO0, 600.
1t is commonly reasoned that the produc-
ton Of wealth, in excess Of the consump-
ton, can be applied to building, railway
construction, the opening Of mines and the
establishment Of manufactures, and other
forms Of development. In a time Of UNI
usual prosperity the production Of wealth is
greater than usual, and 30 the sum appica-
BILE to Improvement is greater But the
fact must not be overlooked that expendi-
lures are also swelled in time Of great
prosperity. Liquors and wines, laces and
silks, yachts, fast horses aud snowy equip
ages all take more money from those who
are making money fast than from the same
classes when business is depressed and spec
ulation dull
Mr. Mulhall the English statistician, pub
ILL. . L.. r l. 4. -
some years ago, the statement that this coun-
try was adding to its wealth yenrly about
as much us Great Britain. Germany and
France combined, as follows: Germany,
S2OO, OOO, OOO yearly, France $31j, OOO, 600
yearly, and Great Britain S32j, OOO, 900
yearly the United States, SS1j, 600. 900.
But the census bureau, rs the result of its
investigation regarding the true wealth Of
the country in 1870 and 1880 reported that
the actual increase had been from $50, 06S.
900, 600 to 3.642 900 900, or 81 ,3j1. OOO-
900 yearly for ten years. Part Of this rep
resents the added value Of land and build
ings, but only -, l22 .OOO. 900 Of the in
crease was in the assessed value of real
estate, and the increase here includes build
ings, whether for residence, commercial or
industrial purposes If these returns are
correct, the actual increase in wealth. apart
from the rise IN values of real estate, was
over y 900, OOO, 900 yearly for ten years
There has been progressive increase
also, larger in the later years than in the
earlier period 1t should be larger now,
seven years later, than it was in 1850.
Hence it would not he entirely unreasona-
ble but for the extraordinary and luxurious
waste of prosperous years, TO estimate that
800, 600 900 might be applied from the
profits or accumuations Of "A single half
year to permanent forms Of Improvement
1t startles one TO consider that, in spite of
all the luxury that is witnessed, and in spite
of the slow and slender gains Of the people
in many parts Of the country, the nation
may nevertheless be adding yearly thous
and millions 10 its wealth. But while waste
and luxury have increased it may with
some reason Ice doubted whether these have
grown faster than the productive industries
| by which they are supported